Best Penny Stocks To Buy? 7 To Watch With Big Headlines In January 2023
Are you ready to get the ball rolling with penny stocks in 2023? You’re not alone, but unlike other years, chances are we’ll see much more volatility in the stock market. Heightened concerns over inflation, rate hikes, and a looming recession have weighed heavily on almost every stock in the market. However, penny stocks tend to move to the beat of their own drums thanks to a more speculative nature.
One of the first places traders look to find companies to add to their list of penny stocks is press wires. They’re generally heavily covered by news outlets and not as hard to find as things like insider trading or unusual activity in derivatives.
Today we look at 7 penny stocks gaining momentum thanks to their latest headlines. Will they be the best to buy this week, or will these news catalysts be short-lived? That’s something I will let you decide. Either way, the first step in understanding what’s behind the moves in specific penny stocks is checking for headlines like these.
Hot Penny Stocks With News
Vivos Therapeutics (VVOS)
In many cases, today’s news flow has placed a bright spotlight on a few biotech penny stocks to watch. I don’t think it’s meant to be that way, but several on this list have jumped after headlines emerged. Vivos Therapeutics is one of the biotechnology penny stocks. The company develops treatments for patients with dentofacial abnormalities or obstructive sleep apnea.
VVOS Stock News
Today, Vivos announced a new clearance from the FDA for its DNA appliance or “daytime-nighttime appliance.” This FDA 510(k) clearance gives an option for a new treatment regimen for obstructive sleep apnea. What’s interesting is the VVOS stock had one of its best days in months on January 3rd. One day later, Vivos announces FDA-related news, and the bullish trend continues.
Crown Electrokinetics (CRKN)
One of the top-performing penny stocks exploding today is Crown Electrokinetics. No, it isn’t a biotechnology company. It develops smart glass technology.
CRKN Stock News
This morning the company announced entry into an asset purchase agreement with Amerigen 7. Amerigen is a company focused on distributed antenna systems and constructing fiber optic infrastructure.
According to Crown, “The asset acquisition includes an executed purchase order with Charter Communications for $67 million to build out its fiber optic network in the State of Ohio. We expect to commence work in Ohio in the coming weeks. Additionally, the Crown Fiber Optic division will continue to focus on its existing fiber optic construction in the State of Michigan. Crown Fiber Optics is a prime contractor for Charter Communications in the States of Ohio, Michigan, Indiana, Wisconsin, and Pennsylvania. We are anticipating our Crown Fiber Optic division to generate approximately $30 million in revenue in 2023 while generating approximately $10 million in EBITDA.”
Geron Corp. (GERN)
Shares of Geron popped on Wednesday as headlines emerged. The late-stage biopharmaceutical company specializes in developing treatments for hematologic malignancies.
GERN Stock News
This week Geron announced positive top-line results from its IMerge Phase 3 trials of imetelstat. It’s the company’s candidate in targeting such hematologic malignancies and, in this case, showed a response in patients with lower-risk myelodysplastic syndromes. The trial met its primary endpoint for efficacy and showed “statistically significant and clinically meaningful” benefits versus placebo.
Applied Therapeutics (APLT)
Another biotech penny stock with news to watch this week is Applied Therapeutics. The company is developing a pipeline of drug candidates, including one in the news today.
APLT Stock News
This morning Applied Therapeutics announced a partnership with Advanz Pharma, which focuses on commercializing medicines. In this case, the two will work on commercializing the AT-007 platform in Europe. This treatment candidate is a central nervous system drug for treating rare neurological diseases, including Galactosemia, SORD deficiency, and others.
Virax Biolabs (VRAX)
We discussed Virax Biolabs earlier this week in our article 3 Cheap Stocks On Robinhood To Buy For Under $5. Virax provides rapid tests, and as flu season goes into full swing, COVID concerns have come back to light. But that’s not why VRAX stock is in the spotlight today.
VRAX Stock News
This week Virax announced that it would introduce a human papillomavirus test kit. The distribution of the kit is expected this quarter to markets such as the European Union. Virax Chairman and CEO James Foster explained, “These tests will cover more genotypes, have shorter processing times, and lower costs than the currently available HPV tests in Europe. As we are able to supply around 200,000 of these tests per week, we have a significant opportunity to capture some market share.”
Cryptyde Inc. (TYDE)
The popular BBIG stock spin-off Cryptyde Inc. has severely underperformed since its public debut. Nevertheless, it has turned some heads in the stock market today. A popular trend has recently centered around penny stocks under $1. TYDE stock sits well below that mark but has seen an uptick in momentum this week. The company’s model includes cashflow management for eCommerce sellers as well as manufacturing & logistics solutions for product and packaging needs.
TYDE Stock News
This week’s news comes in the form of a corporate update. Cryptyde outlined a laundry list of initiatives he aims to execute. These included everything from launching new Software-as-a-Service products to identifying potential acquisition targets.
Argo Blockchain (ARBK)
Cryptocurrency and blockchain stocks haven’t been top performers in the stock market recently. That’s due to continued pressure on leading currencies, including Bitcoin and Ethereum. However, at the beginning of 2023, optimism has built up, and so have the prices for Bitcoin. In Argo’s case, it focuses on cryptocurrency mining at scale and utilizes “climate-positive” operations to do so.
ARBK Stock News
Other than optimism in cryptocurrencies, ARBK stock has climbed higher thanks to analyst “news.” Roth Capital’s analyst Darren Aftahi upgraded the penny stock from Sell to Neutral and raised the $0.25 price target to $1.